The Denver Metro housing market showed mixed signals this August, balancing a modest price increase with shifting inventory and sales dynamics. Buyers and sellers alike are navigating an evolving landscape as the region adapts to seasonal slowdowns and broader economic conditions. At Corken + Company, we believe that understanding these trends is essential for making confident real estate decisions, whether you are entering the market for the first time or considering a strategic move.
Prices Hold Steady with a Modest Rise
The median close price for residential properties across the Denver Metro area reached $593,250, reflecting a 0.81 percent increase compared to July. While modest, this gain underscores the market’s resilience despite slower sales and reduced listing activity. Sellers continue to benefit from strong buyer demand in desirable neighborhoods, while buyers can take advantage of a more balanced pace that allows for thoughtful decision-making.
Sales Volume and Closed Transactions Ease
Closed transactions fell to 3,636 homes, a 5.83 percent decline month-over-month. Correspondingly, sales volume decreased to $2.60 billion, down 3.09 percent. This cooling reflects the seasonality of late summer and indicates that buyers are being more deliberate as affordability remains a top concern.
For sellers, these numbers highlight the importance of strategic pricing and presentation. Homes that are priced competitively and marketed effectively still draw attention, particularly in areas with strong amenities and schools.
Inventory Builds but Days on Market Increase
August recorded 3.59 months of inventory, a 6.02 percent rise compared to July. This uptick suggests buyers have slightly more leverage, as the market shifts closer to balance. While Denver has long been considered a seller’s market, an increase in inventory provides much-needed breathing room for buyers who have faced years of tight competition.
At the same time, the median days on the MLS rose to 30 days, a 25 percent increase month-over-month. This indicates that homes are taking longer to secure contracts, reinforcing the need for sellers to align with market realities when setting expectations.
Active Listings and New Supply Decline
Active listings fell to 13,059 properties, down 6.69 percent from July. New listings also dipped significantly, with 4,686 homes hitting the market, a 12.48 percent decrease. This contraction in fresh supply points to a late-summer slowdown, but it also sets the stage for renewed buyer urgency in the fall when inventory typically rebounds.
Pending Sales Show Encouraging Momentum
Despite the cooling in closed sales, pending activity offered a bright spot. Pending sales rose to 3,921, an 8.37 percent increase month-over-month. This suggests that buyer interest remains strong and many are preparing to make moves heading into September. For sellers, this is a positive sign that well-prepared homes are still finding eager buyers.
What This Means for Buyers and Sellers
For buyers, the August numbers highlight an opportunity to shop with greater confidence. More inventory, longer market times, and stable prices give buyers leverage they have not enjoyed in recent years. Partnering with a knowledgeable broker is essential to identify the right property and negotiate favorable terms.
For sellers, the market remains favorable but requires careful strategy. Pricing realistically, staging effectively, and working with a brokerage like Corken + Company ensures your home stands out in a competitive environment. With pending sales climbing, buyers are still active and ready to make offers when homes meet their expectations.
Navigating the Market with Corken + Company
At Corken + Company, we understand the nuances behind these numbers and how they play out in specific neighborhoods across the Denver Metro area. Whether you are buying or selling, we are here to provide the guidance and expertise you need to make informed decisions.
To learn more about current opportunities or to begin your next real estate journey, visit www.corken.co or call us at 303-858-8003.
